Terms of Use

Last Updated: February 2026

Welcome to All Carats. These Terms of Use ("Terms") govern your access to and use of our B2B diamond auction platform. By accessing or using All Carats, you agree to be bound by these Terms.

1. Acceptance of Terms

By registering for an account or using our platform, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree, you may not use our platform.

2. Eligibility

All Carats is a business-to-business (B2B) platform. By using our services, you represent and warrant that:

  • You are at least 18 years of age
  • You are acting on behalf of a registered business entity
  • You have the authority to bind your business to these Terms
  • You are engaged in the diamond or jewelry trade industry
  • You will provide accurate and complete registration information

3. Account Registration

Account Creation

  • You must register for an account to participate in auctions
  • Registration requires valid business information and contact details
  • We use OTP (One-Time Password) based authentication for secure login

Account Security

  • You are responsible for maintaining the confidentiality of your account
  • You must notify us immediately of any unauthorized access
  • You are liable for all activities that occur under your account

Account Types

Users may participate as:

  • Buyers: Bid on diamonds and stones listed in auctions
  • Suppliers: List diamonds and stones for auction

4. Auction Rules

Bidding

  • All bids are binding. Once you place a bid, you are committed to purchase the item at that price if you are the winning bidder
  • Bids must meet or exceed the minimum bid increment established for the auction
  • You may not retract a bid once placed
  • In case of identical bids, the earlier bid takes precedence

Auto-Bidding (Pre-Bids)

  • You may set a maximum bid amount, and the system will automatically bid on your behalf up to that amount
  • Auto-bids are placed incrementally as needed to maintain your position as the highest bidder
  • When multiple auto-bids exist, the system determines the highest bidder based on maximum amounts and bid timing
  • Auto-bid settings are confidential and not disclosed to other users

Auction Completion

  • Auctions end at the scheduled time displayed on the platform
  • The highest bidder at auction end is declared the winner
  • If the highest bid meets or exceeds the seller's selling price, the sale is automatically confirmed

Post-Auction Negotiation

If the highest bid is below the seller's selling price:

  • A negotiation period begins between the highest bidder and the seller
  • Each party has a limited time window to respond during their turn
  • Sellers may accept the highest bid, make a counter-offer, or reject
  • Buyers may accept the seller's price, update their bid, or decline
  • Each party may make one counter-offer during negotiation
  • Failure to respond within the time limit may result in forfeiture of the negotiation

5. Seller Obligations

If you list products on All Carats, you agree to:

  • Accurate Descriptions: Provide truthful and complete descriptions of all diamonds and stones, including specifications, certifications, and any defects
  • Authentic Products: Only list genuine products that you own or are authorized to sell
  • Pricing: Set fair starting prices and selling prices in USD per carat
  • Availability: Ensure listed products are available for sale and not listed elsewhere during the auction
  • Delivery: Fulfill orders promptly upon successful sale completion
  • Negotiation: Respond to post-auction negotiations within the specified time window

6. Buyer Obligations

If you bid on products, you agree to:

  • Binding Bids: Honor all bids placed as binding commitments to purchase
  • Payment: Complete payment for won items according to agreed terms
  • Due Diligence: Review product descriptions and images before bidding
  • Negotiation: Participate in good faith during post-auction negotiations
  • Communication: Respond to seller communications in a timely manner

7. Fees and Payments

  • All Carats may charge fees for platform services, which will be disclosed before they apply
  • Payment terms between buyers and sellers are as agreed upon between the parties
  • All prices are displayed in USD per carat unless otherwise specified
  • Final sale prices are calculated based on the agreed per-carat price multiplied by the product weight

8. Prohibited Conduct

You agree not to:

  • Place bids you do not intend to honor
  • Engage in shill bidding or artificially inflate prices
  • Provide false or misleading product information
  • Use the platform for any illegal purpose
  • Attempt to manipulate auctions or interfere with other users
  • Create multiple accounts to circumvent platform rules
  • Share your account credentials with unauthorized parties
  • Scrape, copy, or extract data from the platform without authorization
  • Circumvent or disable any security features
  • Harass, threaten, or abuse other users

9. Intellectual Property

  • All content, features, and functionality of the platform are owned by All Carats and protected by intellectual property laws
  • You may not copy, modify, distribute, or create derivative works from our platform without permission
  • Product images and descriptions uploaded by users remain the property of those users, with a license granted to All Carats for platform use

10. Disclaimers

  • Platform Role: All Carats provides a platform connecting buyers and sellers. We are not a party to transactions between users
  • Product Verification: We do not independently verify product descriptions or certifications. Buyers should conduct their own due diligence
  • No Warranty: The platform is provided "as is" without warranties of any kind
  • Availability: We do not guarantee uninterrupted or error-free platform operation

11. Limitation of Liability

To the maximum extent permitted by law:

  • All Carats shall not be liable for any indirect, incidental, special, consequential, or punitive damages
  • We are not responsible for disputes between buyers and sellers
  • Our total liability shall not exceed the fees paid by you to All Carats in the twelve months preceding the claim
  • We are not liable for losses due to platform downtime, data loss, or security breaches beyond our reasonable control

12. Dispute Resolution

  • Disputes between buyers and sellers should first be resolved through the platform's negotiation features
  • If direct resolution fails, parties may seek mediation or other dispute resolution mechanisms
  • All Carats may, at its discretion, assist in dispute resolution but is not obligated to do so

13. Account Suspension and Termination

We may suspend or terminate your account if you:

  • Violate these Terms
  • Engage in fraudulent activity
  • Fail to honor winning bids
  • Provide false information
  • Abuse other users or platform features

You may also close your account at any time, subject to completion of any pending transactions.

14. Changes to Terms

We reserve the right to modify these Terms at any time. Changes will be posted on the platform with an updated "Last Updated" date. Continued use of the platform after changes constitutes acceptance of the modified Terms.

15. General Provisions

  • Entire Agreement: These Terms constitute the entire agreement between you and All Carats regarding platform use
  • Severability: If any provision is found unenforceable, the remaining provisions remain in effect
  • Waiver: Failure to enforce any right does not waive that right
  • Assignment: You may not assign your rights under these Terms without our consent

16. Contact Us

If you have questions about these Terms of Use, please contact All Carats through our platform.

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